珠海格力电器股份有限公司2011-2012财务报告分析

财务分析作业珠海格力电器股份有限公司GREEELECTRICAPPLIANCES,INC.OFZHUHAI2011年‐‐‐‐2012年财务报表分析一.公司简介成立于1991年的珠海格力电器股份有限公司是目前全球最大的集研发、生产、销售、服务于一体的国有控股专业化空调企业，2010年全年营业总收入超过608.07亿元，净利润42.67亿元，纳税39.33亿元，连续9年上榜美国《财富》杂志“中国上市公司1002012年实现营业总收入1001.1亿元，同比增长19.87%；净利润74.46亿元，同比增长40.56%。格力电器旗下的“格力”空调，是中国空调业唯一的“世界名牌”产品，业务遍及全球100多个国家和地区。家用空调年产能5000万台(套)，商用空调年产能550万台(套)20056先、品质卓越的空调产品。在全球拥有珠海、重庆、合肥、郑州、武汉、巴西、86用空调在内的20大类、个系列、多个品种规格的产品，能充分满足不高效离心式冷水机组、G10变频空调、超高效定速压缩机等一系列“国际领先”产品，填补了行业空白。20082010年南非“世界杯”主场馆及多个配套工程、2010年广州亚运会14个比赛场馆、2014年俄罗斯索契冬奥会配套工程等国际知名空调招标项目，在国际舞台上赢二.资产的负债表水平分析资产负债表水平分析表对总资产的影响（%）15.140.29科目2012年2011年变动额变动(%)货币资金交易性金融资产应收票据28,943,921,701.45263,460,017.4016,040,809,751.0816,489,122.0012,903,111,950.37246,970,895.40627,078,973.35248,079,196.24-575,901,646.09-344,119,833.080.0080.441497.781.8634,292,168,999.991,474,872,971.561,739,713,886.10290,356,401.6033,665,090,026.641,226,793,775.322,315,615,532.19634,476,234.680.74应收账款20.22-24.87-54.240.000.29预付款项-0.68-0.400.00其他应收款应收关联公司款应收利息710,865,583.57242,739,720.96468,125,862.610.00192.850.000.55应收股利0.00存货17,235,042,562.7017,503,107,339.56-268,064,776.860.00-1.530.00-0.310.00其中消耗性生物资产一年内到期的非流动资产0.000.000.00其他流动资产流动资产合计可供出售金融资产持有至到期投资长期应收款长期股权投资投资性房地产固定资产137,242,997.7685,087,645,122.13554,912,450.00110,488,963.0026,754,034.7613,332,034,656.70554,912,450.000.0024.2118.580.000.0315.650.000.000.000.010.015.860.160.000.000.000.000.020.000.000.001.430.0010.5926.240.920.00-3.1271,755,610,465.430.000.000.0028,159,992.30208,009,129.7612,700,394,289.322,304,317,913.9216,876,644.41197,630,453.937,709,137,076.072,171,661,342.2111,283,347.8910,378,675.834,991,257,213.25132,656,571.710.0066.865.2564.746.11在建工程工程物资0.00固定资产清理生产性生物资产油气资产110,093.59624,698.11-514,604.520.00-82.380.000.000.00无形资产1,635,272,965.121,622,164,402.2913,108,562.830.000.81开发支出0.00商誉0.000.00长期待摊费用递延所得税资产其他非流动资产非流动资产合计资产总计48,089,330.592,911,085,198.232,088,903,434.9922,479,254,797.82107,566,899,919.953,520,642,063.9148,156,578.28-67,247.69-0.1472.280.001,689,732,546.571,221,352,651.662,088,903,434.999,023,271,055.9522,355,305,712.65781,355,664.010.0013,455,983,741.8785,211,594,207.302,739,286,399.9067.0626.2428.520.00短期借款交易性金融负债应付票据7,983,581,180.1710,644,121,238.23-2,660,540,058.06-25.00应付账款预收款项22,665,011,613.6616,630,113,200.831,357,672,403.952,522,100,351.4520,199,098.5515,636,363,281.5219,752,693,733.70729,428,961.21-679,569,415.9416,594,175.227,028,648,332.14-3,122,580,532.87628,243,442.743,201,669,767.393,604,923.330.0044.95-15.8186.13-471.1321.720.008.25-3.660.743.760.000.002.470.00应付职工薪酬应交税费应付利息应付股利707,913.60707,913.60其他应付款5,441,614,890.933,336,435,940.102,105,178,950.830.0063.100.00应付关联公司款一年内到期的非流动负债2,513,763,694.232,176,615,725.96337,147,968.2715.490.40其他流动负债流动负债合计长期借款16,174,953,065.3078,830,359,476.58984,463,173.329,840,337,652.0664,193,015,605.562,582,204,889.286,334,615,413.2414,637,343,871.02-1,597,741,715.960.0064.3722.80-61.880.007.4317.18-1.880.000.000.000.000.14-0.01-1.7415.430.223.610.540.006.360.08-0.01应付债券长期应付款0.000.00专项应付款0.000.00预计负债0.000.00递延所得税负债其他非流动负债非流动负债合计负债合计160,405,437.9111,469,703.4943,167,808.1216,051,361.73117,237,629.79-4,581,658.24-1,485,085,744.4113,152,258,126.61189,976,689.003,077,008,846.20457,006,465.340.00271.59-28.54-56.2219.686.741,156,338,314.7279,986,697,791.303,007,865,439.003,187,175,872.282,958,088,564.432,641,424,059.1366,834,439,664.692,817,888,750.00110,167,026.082,501,082,099.09实收资本(或股本)资本公积2793.0418.270.00盈余公积减库存股未分配利润17,572,277,003.95837,067,723.8810,133,985.4312,155,497,995.04770,288,728.3716,584,555.695,416,779,008.9166,778,995.51-6,450,570.2644.568.67少数股东权益外币报表折算价差非正常经营项目收益调整-38.900.000.0050.0826.240.0010.8026.24所有者权益或股东权益合计27,580,202,128.65107,566,899,919.9518,377,154,542.6185,211,594,207.309,203,047,586.0422,355,305,712.65负债和所有者或股东权益合计22,355,305,712.65元，增长幅度为26.24%，这说明格力公司在报告期内资产规模有较大幅度增长，进一步分析可以得出：13,332,034,656.7018.58%，使总资产规模增长9,023,271,055.95元，增长幅度为67.06%，使总资产规模上涨10.59%，两者合计使总资产增加了22,355,305,712.65元，增长幅度为26.24%。2.本期总资产的增长主要体现在流动资产的增长上，仅从这一变12,903,111,950.3780.44%，对总资产的影响是15.14%。货币资金的增长对提高企业的偿债能力、满足资金流动性需要都是有利的，但是同样要考虑资金的利用效果、企业需要的资金量以及闲置资金量。3.非流动资产的变动主要体现在固定资产的增长，本期增长了4,991,257,213.25元，增长幅度为64.74%，对总资产的影响为5.86%，是非流动资产中对总资产变动影响最大的项目。4.负债本期增长了13,152,258,126.61元，增长幅度为19.68%，使权益总额增加了15.43%，股东权益本期增加了9,203,047,586.04元，增期增加了22,355,305,712.65元，增长幅度为26.24%。5.本期权益总额增长主要体现在负债上，流动负债增长是主要方面。流动负债本期增长了14,637,343,871.02元，幅度为22.80%，对权益总额影响为17.18%，这种变动有极大可能导致公司偿债压力的加现在应付账款的增长，应付账款本期增长7,028,648,332.14元，增长幅度为给公司带来偿债压力，因而需要考虑企业的偿债能力。三．资产负债表垂直分析资产负债表垂直分析表2012年2011年变动情况（%）（%）26.9118.828.08科目2012年2011年（%）货币资金28,943,921,701.45263,460,017.4016,040,809,751.0816,489,122.00交易性金融资产0.240.020.23应收票据应收账款预付款项其他应收款34,292,168,999.991,474,872,971.561,739,713,886.10290,356,401.6033,665,090,026.641,226,793,775.322,315,615,532.19634,476,234.6831.881.371.620.2739.511.442.720.74-7.63-0.07-1.10-0.47应收关联公司款0.000.000.00应收利息应收股利存货710,865,583.57242,739,720.960.660.000.280.000.380.0017,235,042,562.7017,503,107,339.5616.0220.54-4.52其中:消耗性生物资产0.000.000.00一年内到期的非流动资产0.000.000.00其他流动资产流动资产合计137,242,997.7685,087,645,122.13554,912,450.00110,488,963.000.1379.100.520.1384.210.000.00-5.110.5271,755,610,465.43可供出售金融资产持有至到期投资长期应收款0.000.000.030.000.000.020.000.000.01长期股权投资28,159,992.3016,876,644.41投资性房地产208,009,129.76197,630,453.930.190.23-0.04固定资产在建工程工程物资12,700,394,289.322,304,317,913.927,709,137,076.072,171,661,342.2111.812.140.009.052.550.002.76-0.410.00固定资产清理110,093.59624,698.110.000.000.000.000.000.00生产性生物资产油气资产无形资产开发支出商誉0.001.520.000.000.001.900.000.000.00-0.380.001,635,272,965.121,622,164,402.290.00长期待摊费用递延所得税资产其他非流动资产非流动资产合计48,089,330.592,911,085,198.232,088,903,434.9922,479,254,797.8248,156,578.280.042.710.061.98-0.010.721.945.111,689,732,546.571.940.0013,455,983,741.8720.9015.79资产总计短期借款107,566,899,919.953,520,642,063.9185,211,594,207.302,739,286,399.90100.003.27100.003.210.000.06交易性金融负债0.000.000.00应付票据应付账款预收款项7,983,581,180.1722,665,011,613.6616,630,113,200.8310,644,121,238.2315,636,363,281.5219,752,693,733.707.4221.0715.4612.4918.3523.18-5.072.72-7.72应付职工薪酬1,357,672,403.95729,428,961.211.260.860.41应交税费应付利息应付股利其他应付款2,522,100,351.4520,199,098.55707,913.60-679,569,415.9416,594,175.22707,913.602.340.020.005.06-0.800.020.003.923.140.000.001.145,441,614,890.933,336,435,940.10应付关联公司款0.000.000.00一年内到期的非流动负债2,513,763,694.2316,174,953,065.302,176,615,725.969,840,337,652.062.342.55-0.22其他流动负债流动负债合计15.0473.2811.5575.333.4978,830,359,476.58984,463,173.3264,193,015,605.562,582,204,889.28-2.05长期借款应付债券0.920.000.000.000.003.030.000.000.000.00-2.120.000.000.000.00长期应付款专项应付款预计负债递延所得税负债160,405,437.9143,167,808.120.150.050.10其他非流动负债11,469,703.4916,051,361.730.010.02-0.01非流动负债合计负债合计1,156,338,314.7279,986,697,791.303,007,865,439.002,641,424,059.1366,834,439,664.692,817,888,750.001.0774.362.803.1078.433.31-2.02-4.07-0.